Raymond James & Associates Trims Stock Position in DXC Technology (NYSE:DXC)

Raymond James & Associates lowered its position in shares of DXC Technology (NYSE:DXC) by 53.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,230 shares of the company’s stock after selling 82,387 shares during the period. Raymond James & Associates’ holdings in DXC Technology were worth $1,652,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Orion Portfolio Solutions LLC grew its stake in DXC Technology by 5.8% during the second quarter. Orion Portfolio Solutions LLC now owns 9,199 shares of the company’s stock valued at $246,000 after acquiring an additional 507 shares in the last quarter. Toroso Investments LLC grew its stake in DXC Technology by 7.7% during the first quarter. Toroso Investments LLC now owns 7,683 shares of the company’s stock valued at $251,000 after acquiring an additional 546 shares in the last quarter. Sei Investments Co. grew its stake in DXC Technology by 2.1% in the 1st quarter. Sei Investments Co. now owns 37,018 shares of the company’s stock worth $1,058,000 after buying an additional 759 shares in the last quarter. Studio Investment Management LLC grew its stake in DXC Technology by 4.8% in the 4th quarter. Studio Investment Management LLC now owns 17,002 shares of the company’s stock worth $451,000 after buying an additional 773 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in DXC Technology by 2.4% in the 1st quarter. CIBC Asset Management Inc now owns 33,604 shares of the company’s stock worth $859,000 after buying an additional 774 shares in the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

DXC Technology Stock Down 1.1 %

Shares of DXC Technology stock opened at $19.58 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50-day moving average of $21.02 and a 200 day moving average of $21.93. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of -10.25, a PEG ratio of 1.79 and a beta of 1.85. DXC Technology has a 1 year low of $18.61 and a 1 year high of $28.89.

DXC Technology (NYSE:DXC) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.77 by $0.10. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the prior year, the firm posted $0.95 EPS. DXC Technology’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that DXC Technology will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on DXC shares. JPMorgan Chase & Co. cut shares of DXC Technology from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $27.00 to $24.00 in a research note on Wednesday, January 24th. Citigroup cut shares of DXC Technology from a “neutral” rating to a “sell” rating and cut their price target for the stock from $24.00 to $21.00 in a research note on Wednesday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price target on shares of DXC Technology in a research note on Friday, February 2nd. Finally, Guggenheim started coverage on shares of DXC Technology in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 price target for the company. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.20.

Insider Activity at DXC Technology

In related news, EVP William L. Deckelman, Jr. sold 18,102 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $21.73, for a total transaction of $393,356.46. Following the sale, the executive vice president now directly owns 124,806 shares of the company’s stock, valued at approximately $2,712,034.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is currently owned by insiders.

DXC Technology Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in the United States, the United Kingdom, rest of Europe, Australia, and internationally. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS).